Does the equity go towards the IVA ?

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ian4

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Post by ian4 » Mon Nov 26, 2007 10:19 am
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I AM THINKING OF AN IVA AS I OWE ABOUT 53K ONE WITH NAT WEST £492 AMONTH GE MONEY£384 AND ABOUT 12K ON CREDIT CARDS THE CARD COMPANIES ARE PHONING ABOUT 7 TIMES ADAY AND ITS WORRYING TIMES, I HAVE ABOUT 40K EQUITY IN THE HOUSE BUT DOES THIS GO TOWARDS THE IVA IF I CHOOSE TOGO FORWARD? THE HOUSE IS ON THE MARKET AT THE MOMENT.
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couple31

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Post by couple31 » Mon Nov 26, 2007 11:14 am
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Are you buying another house or going into rented?

With that much equity, could you do a full and final IVA with one payment?
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MelanieGiles

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Post by MelanieGiles » Mon Nov 26, 2007 1:00 pm
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Hi there

A full and final settlement would only be an option if Ian is left with no disposable income. Could you clarify your plans for the future Ian, so that we can advise further, and specifically confirm whether you would be left with any spare money if you were not paying anything to your creditors.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Regards, Melanie Giles, Insolvency Practitioner
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